Mates, looks like Wave(4) has started. If you pay attention to Wave(2) it was a simple ABC-zigzag correction that terminated almost at 0.618 of Wave(1). Due to the rule of alternation, current Wave(4) should be more complex (a triangle, flat or compound) and should be shallower touching only 0.382 of Wave(3). Also the most common size of Wave(4) corrections is the basement of Subwave5 of Wave(3). Thus, market structure, fibs, alternation and even number of $4000 tells me that the area of 3600-4000 is most likely be a good support level . Feel free to comment and share your view on wave count.
Komentar:
although, we didn't have wave4 being a triangle correction, seems like wave5 is on its way. overall analysis was accurate.
Komentar:
now wave5 is completed. A massive sell-off should start around there.
Komentar:
A typical size of correction after wave5 completion reaches the wave4 basement. On the chart it is 3200-2900 area. Looking for price to drop there:)